Arab oil producers mull hydrogen potential: press
An organisation of Arab oil exporters said August 30 the Middle East region is primed to capitalise on burgeoning trends in hydrogen, the Kuwait News Agency reported.
The news service, known commonly as KUNA, reported that the Organisation of the Arab Petroleum Exporting Countries (OAPEC) issued a working paper during a meeting in Oman describing how the regional renewable energy sector can facilitate the development of green hydrogen.
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KUNA reported that OAPEC, which has its headquarters in Kuwait, expects hydrogen demand will spike considerably as the energy transition accelerates. The proximity of Middle East countries to the European market, meanwhile, means Arab producers are well-positioned to take advantage of green energy trends.
On August 25, German engineering group Siemens said it signed a memorandum of understanding that outlines the development of hydrogen projects with export potential in Egypt, an OAPEC member.
Despite Egypt's considerable gas reserves that could serve as feedstock for producing blue hydrogen, the focus of Siemens' partnership focuses on green hydrogen.
"The development of a homegrown hydrogen ecosystem and value chain in Egypt has the potential to deliver a more sustainable and prosperous future for Egyptians," Christian Bruch, CEO of Siemens Energy, said in a statement.
Egyptian companies Egyptian Electricity Holding Company and the Egyptian Natural Gas Holding Company already signed an agreement with Italy's Eni related to the feasibility of producing both green and blue hydrogen in Egypt.